Another prestige partner signs on with Asian Games
Asian Games organisers have secured the latest major sponsor for the 2010 Games, to be held in Guangzhou, China.
China Southern Power Grid Co. Ltd. has agreed to become a prestige partner of the event, with particular responsibility for ensuring "stable electricity supplies and green power services" during the continuing construction process and the event itself.
CSG, which was formed in 2002, is one of two state-owned power grid companies in the country and has total annual revenues of over US$19 billion. The signing ceremony in Guangzhou was attended by representatives from the company, the local Games organisers (GAGOC) and the Olympic Council of Asia, which organises the Games.
The Games are due to take place in November next year and will be the largest sporting event in the world. Some 50 stadiums are required to accommodate 42 sports and over 14,000 athletes.
Building costs are reported to be as high as US$900 million. In May the organisers revealed they had secured US$292 million of direct investment, well below initial expectations.
Contract Details
- Length of contract: 2 years
- Annualised value: US$15 million
- Overall value: US$30 million
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